How can you increase your revenue by 15% and what would be the impact on your bottom line?
When a technology company increases its sales by 15%, profits will double.
I don’t know if it would be that dramatic for a law firm, but I do know that once fixed overhead is covered, profits rise at a far greater rate.
When I practiced law, if I had brought up this idea, our firm leaders would have sent a memo instructing our lawyers to raise their rates by 15%. They may have also demanded more hours from partners and associates.
Just suppose that instead of raising rates or demanding more hours, your firm created a plan to increase client satisfaction. What would be the 10 things you would do?